Martinique Economy:
The economy is based on sugarcane, bananas, tourism, and light industry. Agriculture accounts for about 6% of GDP and the small industrial sector for 11%. Sugar production has declined, with most of the sugarcane now used for the production of rum. Banana exports are increasing, going mostly to France. The bulk of meat, vegetable, and grain requirements must be imported, contributing to a chronic trade deficit that requires large annual transfers of aid from France. Tourism, which employs more than 11,000 people, has become more important than agricultural exports as a source of foreign exchange.
GDP (purchasing power parity:
$6.12 billion (2003 est.)
GDP — real growth rate:
NA
GDP — per capita:
purchasing power parity: $14,400 (2003 est.)
GDP — composition by sector:
agriculture: 6%
industry: 11%
services: 83%
(1997)
Labor force:
165,900 (1998 est.)
Labor force — by occupation:
agriculture: 10%, industry: 17%, services: 73% (1997 est.)
Unemployment rate:
27.2% (1998 est.)
Household income or consumption by percentage share:
lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices):
3.9% (1990 est.)
Budget:
revenues: $900 million
expenditures: $2.5 billion including capital expenditures of $140 million (1996 est.)
Agriculture — products:
Pineapples, avocados, bananas, flowers, vegetables, sugarcane
Industries:
construction, rum, cement, oil refining, sugar, tourism
Industrial production growth rate:
NA
Electricity — production:
1.18 billion kWh (2002 est.)
Electricity — consumption:
1.1 billion kWh (2002 est.)
Electricity — exports:
0 kWh (2002 est.)
Electricity — imports:
0 kWh (2002 est.)
Oil — production:
0 bbl/day (2001 est.)
Oil — consumption:
13,500 bbl/day (2001 est.)
Oil — exports:
NA
Oil — imports:
NA
Exports:
$250 million (f.o.b. 1997 est.)
Exports — commodities:
refined petroleum products, bananas, rum, pineapples (2001 est.)
Exports — partners:
France 45%, Guadeloupe 28% (2000)
Imports:
$2 billion (c.i.f. 1997 est.)
Imports — commodities:
petroleum products, crude oil, foodstuffs, construction materials, vehicles, clothing, other consumer goods (2001 est.)
Imports — partners:
France 62%, Venezuela 6%, Germany 4%, Italy 4%, US 3% (2000)
Debt — external:
$180 million (1994 est.)
Economic aid — recipient:
NA
note: Substantial annual aid from France
Currency:
euro (EUR)
Exchange rates:
euros per US$: 0.81 (2004 est.), 0.89 (2003 est.), 1.06 (2002 est.), 1.06 (2001 est.), 1.09 (2000 est.)
Fiscal year:
calendar year
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